Welcome to the world of Karnataka State Souharda Federal Cooperative Ltd, the first Apex Body of New generation cooperatives in India. Souharda Federal Cooperative is a democratically elected self-regulatory organization of the cooperatives registered under Karnataka Souharda Sahakari Act, 1997.

The earliest co-operatives were set-up among the weavers, in other words workers in cottage industries, who were the first and the hardest hit by the development of the mercantile economy and the industrial revolution.

How to become a Souharda Cooperative?

The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows :

• There should be at least ten persons.
  
• These persons should be from different families.
  
• These persons should be competent to enter into a contract under the Indian contracts Act 1872.
  
• He should reside in the area of operation of the Cooperative.
  
• He should be eligible as per the bye-laws of the proposed Cooperative.
  
• Any individual, firm, company or any other body corporate can become member of the Cooperative.
  
• Any Cooperative registered under this Act (For Union cooperative) or Societies registration Act 1860.
  
• The object of the Cooperative should be promotion of economic interests or general welfare of the members or the public, in accordance with the co-operative principles.
  
• It should be economically sound, its registration should not affect adversely on the development of the co-operative movement.
  
• Its registration should not be contrary to the policy directives of the State government.
  

Procedure of Formation of a Co-operative Cooperative :

The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows :

• Promoters meeting : Willing , eligible persons should come together and conduct a meeting, which is called as promoters' meeting. This meeting will decide the name of the proposed Cooperative, its object and bye-laws and then elect a Chief Promoter authorizing him to sign the necessary documents on behalf of the promoter members.
• Collecting initial share capital : The Chief Promoter will apply to the Registrar of the concerned area for requesting to authorize to collect share-capital. The application shall consist of:
  • Prescribed application
  • Resolution of promoters' meeting
  • Proposed byelaw
  • Details of promoters
  Registrar will authorize the Chief promoter to collect the share and direct him to deposit the collected share capital in a particular Bank.
• Registration : After collection of the necessary share capital, the chief promoter shall apply for registration of the cooperative along with:
  • Prescribed application
  • 5 copies of proposed byelaws
  • List of persons who have contributed to the share-capital and the entrance fee of the proposed Cooperative
  • Bank documents having been deposited share capital
  • Registration fees : 1% of the authorized share capital, subject to minimum of Rs.500/- and maximum of Rs. 5000/-
  • After scrutinizing the documents Registrar will register the cooperative
• Election to first Board : After Registration the chief promoter shall call first General Body of the newly formed cooperative to elect its first board.
• Beginning of activities : After election of first board, the President and Secretary can open the Bank account and may start activities of the cooperative.

The basic guidelines for the formation of Co-operatives under Karnataka Souharda Sahakri Act, 1997 are as follows:

• Promoters meeting
• Collecting initial share capital
• Registration
• Election to first Board
• Beginning of activities

• Cooperative Movement In World.
• Cooperative Movement In India.
• Cooperative Movement In Karnataka.
• Cooperative Principles.